Press Conference by the Chief Cabinet Secretary (Excerpt)

Q&As

• The annual spring labor offensive

REPORTER: The annual spring labor offensive will kick off today. What does the Government expect from this year's offensive?

CHIEF CABINET SECRETARY SUGA: First, I am aware that since this morning RENGO (Japanese Trade Union Confederation) and Keidanren (Japan Business Federation) have been exchanging views regarding the various items on the agenda of the spring labor-management negotiations. The Government believes it is critical to ensure that the effects of the three arrows lead to increased corporate earnings, higher wages, and greater employment, so as to realize a positive cycle of the economy. Specifically, wage levels will be determined through individual labor-management negotiations. In this year's spring labor offensive, we hope specific actions for increasing wages, including raising base wages will take place as a result of earnest discussions considering the shared understanding that was reached at the recent government-labor-management consultations. With that we believe we will be able to realize a positive cycle of the economy. Therefore we expect the outcome from the labor-management negotiations in the spring labor offensive that kicked off today.

(Abridged)